U.S. Construction Spending Falls in October

Total construction spending fell 1.2 percent in October, according to monthly statistics released by the U.S. Commerce Department.

The figure is 4.6 percent below the estimate for October of last year.

The slide in residential home building continued, posting a 3.5 percent decline in October. Nonresidential private construction also fell 0.7 percent.

The public construction sector showed some strength, gaining 0.7 percent. Educational construction spending rose 1.2 percent over September’s estimate, although highway construction fell 0.9 percent.

More information is available at www.census.gov.